Steel exports expected to remain strong on back of higher global prices

Though domestic demand for steel is seen picking up, views remained mixed on whether capital expenditure growth cycle will pick up

India's steel exports are expected to remain strong, on the back of higher global prices, amid falling Chinese shipment as Beijing focuses on cutting around 30 million tonnes of excess annual  capacity, to curb air pollution.

Exports during the first 10 months of this financial year jumped 40.2 per cent from same period last year, while domestic consumption grew 5.4 per cent. Production in the period was about 88.6 million tonnes. 

“It is the increase in export which is helping domestic production go up. We expect the year (FY18) to end with production of more than 100 mt, mainly to